ProElite, King of the Cage Close Strict Foreclosure Agreement

LOS ANGELES--(Business Wire)--
ProElite, Inc. (OTB:PELE.PK) said today that it has closed a strict foreclosure
agreement that returns King of the Cage, the highly successful mixed martial
arts brand, to its original owners Terry and Julie Trebilcock. With the
agreement, ProElite`s outstanding debt to King of the Cage has been satisfied;
and King of the Cage, under the leadership of founder Terry Trebilcock, again
becomes an independent company with control over its own extensive video
library.

ProElite CEO Charles F. Champion said that the agreement closed today and that
the financial and legal issues between the two entities have been completely
resolved.

ProElite retains a number of prominent assets including a host of international
MMA brands such as Spirit MC, its community-driven interactive broadband
entertainment website, and an extensive library of MMA events.

Hud Englehart
Beacon Advisors, Inc.
312.280.8100

Copyright Business Wire 2009